Nominal Imports of Goods and Services for Canada
NMSAXDCCAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
267,352.00
Year-over-Year Change
21.60%
Date Range
1/1/1961 - 1/1/2025
Summary
The Nominal Imports of Goods and Services for Canada is an economic indicator that tracks the total value of imported goods and services by the Canadian economy. This metric is closely monitored by economists and policymakers to assess Canada's trade balance and international competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Nominal Imports of Goods and Services for Canada measures the total monetary value of all goods and services imported into the Canadian economy over a given period. This includes a wide range of products, from raw materials and consumer goods to professional services. The data is used to calculate Canada's trade balance and analyze its economic relationships with trading partners.
Methodology
The data is collected and reported by Statistics Canada based on surveys of Canadian importers and customs records.
Historical Context
Trends in nominal imports provide insight into the health of the Canadian economy and its integration with global markets.
Key Facts
- Canada is the 9th largest import economy in the world.
- Nominal imports peaked at $629 billion CAD in 2018.
- Imports account for approximately 34% of Canada's GDP.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods and Services for Canada tracks the total monetary value of all goods and services imported into the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into Canada's trade balance, international competitiveness, and economic integration with global markets.
Q: How is this data collected or calculated?
A: The data is collected and reported by Statistics Canada based on surveys of Canadian importers and customs records.
Q: How is this trend used in economic policy?
A: Trends in nominal imports are closely monitored by economists and policymakers to assess the health of the Canadian economy and guide trade and economic policies.
Q: Are there update delays or limitations?
A: The data is reported monthly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Nominal Imports of Goods and Services for Canada (NMSAXDCCAQ), retrieved from FRED.